Investment Management Corp of Ontario Has $3.39 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Investment Management Corp of Ontario lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 54.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,675 shares of the company's stock after selling 34,866 shares during the quarter. Investment Management Corp of Ontario's holdings in Cardinal Health were worth $3,391,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CAH. Iron Triangle Partners LP purchased a new position in Cardinal Health during the 4th quarter valued at about $21,998,000. Jefferies Financial Group Inc. grew its stake in Cardinal Health by 165.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 216,047 shares of the company's stock valued at $25,552,000 after acquiring an additional 134,641 shares in the last quarter. Junto Capital Management LP purchased a new position in Cardinal Health during the 4th quarter valued at about $92,811,000. Focus Partners Wealth grew its stake in Cardinal Health by 20.3% during the 4th quarter. Focus Partners Wealth now owns 18,197 shares of the company's stock valued at $2,152,000 after acquiring an additional 3,076 shares in the last quarter. Finally, Ethic Inc. grew its stake in Cardinal Health by 20.7% during the 4th quarter. Ethic Inc. now owns 11,835 shares of the company's stock valued at $1,400,000 after acquiring an additional 2,031 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Up 2.2%

CAH stock traded up $3.29 during mid-day trading on Thursday, reaching $151.70. 1,948,092 shares of the stock traded hands, compared to its average volume of 2,224,226. The firm has a market capitalization of $36.21 billion, a PE ratio of 28.30, a P/E/G ratio of 1.49 and a beta of 0.66. The business has a 50-day moving average of $135.94 and a two-hundred day moving average of $127.06. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $154.07.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.20. The firm had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 EPS. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.35%. Cardinal Health's payout ratio is presently 31.83%.

Analyst Upgrades and Downgrades

CAH has been the topic of several research analyst reports. Bank of America lifted their target price on Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Mizuho lifted their price target on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Robert W. Baird lifted their price target on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. StockNews.com upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Finally, Morgan Stanley lifted their price target on Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $146.43.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.